Finance, Loan, Debt and Credit.

April 30, 2013

Unsecured Debt Consolidation Loan: Cushioning Without Pledging

Filed under: Loan — Tags: , , , , , , , , — admin @ 12:47 pm

Nobody wants to be a debtor. If you have a number of debts that you are trying to repay on each month then you may be able to benefit from a debt consolidation loan. The process is of different sorts according to debtors’ financial feasibility. Some of the debt consolidation loan contains the ceremony of collateral placing, however some of consolidation process keeps no pledging placing. The latter comes under the category of unsecured debt consolidation loan. With this debt consolidation process, a single creditor helps get rid of entire of a debtor’s debts in a systematic manner.

Obviously, different loans contain varied rates of interest. Satisfying entire of the lending community with ordinate repayment gets quite tougher. In such situation, under the provision of an unsecured debt consolidation loan, a good amount of money is sanctioned to the debtors. To this effect, borrowers get the required sum of money which is invested into repaying debtor’s debts.

If you are seeking professional help in reducing your debt load, you may wonder what exactly the service entails. While each unsecured debt consolidation loan differs slightly, there are some common denominators. At most companies offering unsecured debt consolidation loan, you will be assigned a counselor or given some information about debt. Debt and some financial terms will be explained to you. Then, you will be asked to sign a contract or agreement with the company. At this point, you will not have to do much. The company will contact your creditors and try to negotiate lower late fees and lower fees in general for you. You will then pay the debt consolidation company a monthly amount. You use the sanctioned money to pay your creditors.

There days, market is crowed with lenders. Due to more people for this cause, some of the time, debtors are unable to understand the terms and conditions of an Unsecured Debt Consolidation Loan. To fight away from such hustle-bustle, lending bodies have started dispensing their unsecured debt consolidation loan via online. The process is very simple, and debtors could able to get the required sum instant since there is no pledging placing.

VA Home Loan Refinance – What Determines Your VA Home Loan Interest Rates

Filed under: Loan — Tags: , , , , , , , — admin @ 12:47 am

To give you a background on VA home loan refinance, it started in 1944 with the Servicement’s Readjustment Act. This is also known as the GI Bill of Rights. The GI Bill was signed by President Franklin D. Roosevelt which provided war veterans with guaranteed homes without down payment. This was specifically designed to give veterans housing and assist their families. This is the dream of most veterans –  to have their very own homes.

The VA Home Loan Refinance guarantees that the loans are made by private lenders like mortgage companies, banks, and savings and loans corporations. The guarantee requires the lender to protect the client just in case he fails to repay the loans.

At least with the VA Home Loan Refinancing, one can guarantee the protection of both parties. This is received from the required down payment that has been agreed on – in both favorable financing agreements.

Making the most out of a VA Home Loan Refinance deal is a good idea because it allows you to know more about the loan program that you are getting yourself into. You will also realize that there is less red tape as you make the transaction to your new lender.

You have to remember that all payments you make now with your VA home loan refinance is under the new lender. In doing so, you get to save more money because of the low interest rate and the low monthly payment. Just make sure that the lender you entrust your VA home loan refinance has good credit score.

The use for the VA home loan refinance has been proven quite effective when it comes to the percentages of the guarantee rates. The interest rates really depend on how you were able to meet the requirements for the VA home loan.

For one, you need to have good credit rating. If you do, then you pay lower interest rates compared to someone who has negative credit rating.

Another factor that determines the rates you have to pay on your VA home loan refinance is the state you’re living in. The percentage of what your new lender has to pay depending on the amount you have left on your mortgage vary from one state to the next. Sometimes the standard rates do not apply in a specific state. You have to make sure that the rates you agree on are considered liable in the state that you are in.

The whole point of you going for VA home loan refinance is to save more. Don’t go with the first tempting offer that comes your way. Consider your other options. Check which one you will be able to save more and then go with that.

April 29, 2013

How to substantiate expenses claimed on your tax return?

Filed under: Tax — Tags: , , , — admin @ 12:46 pm

If you are claiming deductions on account of travel, entertainment, gift or transportation expenses, you have to substantiate these expenses by keeping appropriate records.

You should always keep sufficient evidence of the expenses claimed on your tax return.  You may not rely on the oral evidence, but must have written evidence, as it is considered more reliable by IRS.  If you prepare records on your computer, it is still considered as adequate record.

What are considered ‘adequate records?’

Generally, entry in your account book or statement of expense is a good record.  In addition documentary evidence such as canceled checks, the receipts, bills etc. is supporting evidence.  So if you are claiming hotel expenses, the receipt of the hotel indicating the name and the location of the hotel, the dates of your stay and separating between expenses like lodging, meals, telephone calls etc. is a good record.  Similarly a receipt from a restaurant which indicates name and location, the number of people served and the date and amount of expense, is a good record.

If your employer is paying directly for your expenses like tickets or travel expenses, you need not keep a record of those.  However, if you incurred these expenses by using your credit card and charge later to your employer, you need to keep appropriate records.

The purpose of expenses is an important element.  The business purpose must be proved by a written statement.  However if the circumstances surrounding are clear, written explanation is not necessary.

Canceled checks – A canceled check by itself cannot be taken as proof of a business expense.  However such a check with the bill from the payee can establish the expense.

You should always try to keep timely records.  It has more value than a statement prepared after some time. The accuracy may go on diminishing as the time passes by.

You need not place on record confidential information relating to expenses.  Information such as business purpose or a business relationship need not be entered in the account book or diary.  However, record this information elsewhere and make it available in case of requirement.

At times you may not have complete records to prove your expense.  In that case supporting information can be of use.  If you are unable to produce a receipt due to reasons beyond your control such as fire, flood or similar casualties, you can restructure your records of expenses to prove them.

You must separate payments as far as possible.  So if you entertain a customer for dinner and then go to the theatre, the separation of these two expenses is required.  However, you can combine several expenses in the same category for one daily entry.  Expenses like taxi fares or telephone calls can be combined in this manner.

If you are unable to allocate the total cost for the each person, you may allocate it on a pro rata basis.  This is important in situations when you are entertaining a group of people, and some of them are not having business relationship with you.

If your return is examined by IRS, you may be required to provide additional information to clarify and establish the accuracy or reliability of the information you had already supplied.

If you have already handed over your records and supporting documents to your employer while claiming reimbursement of your expenses, you need not keep copies of those records.  This concession is not available if you are related to your employer.

For how long you need to keep these are records?

Generally you must keep all these are records which are supporting your deductions, for a period of three years from the date when you filed your income tax return claiming such deduction.

Secured Debt Consolidation: Best Way Out Of A Debt Crisis

Filed under: Debt — Tags: , , , , , , , — admin @ 12:48 am

The process of debt consolidation involves combining two or more existing loans in a single loan and paying off for it. The debt consolidation process might or might not require staking collateral. Collateral can be anything from a piece of property to any asset of considerable worth. The higher the value of collateral, the lower the rate of interest you can expect on your debt consolidation loan. Unsecured loans are those that do not require collateral whereas secured loans are sealed by staked collateral. Home equity loan or a second mortgage loan on a fixed asset is also known as secured debt consolidation.
The term “home equity” refers to the worth of a home. By taking a home equity loan, you take a loan against your house. A home equity loan is usually taken to get a higher amount of credit and more favorable interest rates. The secured debt consolidation is rather easily available in the economy today. However, as a consumer, you must give it a serious thought and think both in terms of pros and cons before taking it up. The biggest drawback with a secured debt consolidation program is that your house is put at risk. If you miss out on a payment then you run a high risk of your house getting forfeited. By nature, a secured debt consolidation program is long term. The advantages of a secured debt consolidation program is that your immediate cash outflow falls drastically, and therefore you experience a reduced stress and tension that was caused by the multiple payments and varying rates of interest.
As a borrower you must realize that secured debt consolidation is the finest solution to resolve debt crisis provided you accompany the consolidation process with an improved financial planning and disciplined borrowing. Financial experts advice you to go in for debt consolidation if the amount involved in the debts being consolidated is high. You must keep in mind that unsecured consolidation loans have a high rate of interest and ultimately prove to be of little use to the borrower. To consolidate your debts, you should get in touch with a debt consolidation or negotiation company. A debt consolidation company is an organization that negotiates with your creditors to get you a low rate of interest and better terms of partnership in general. Debt negotiation is also known as debt settlement. Debt settlement is meant for people who are financially not in a position to pay their monthly debts and have not made any payments out in the last three months.
Debt settlement process works by taking monthly fixed amount from you and stores it in an account maintained by either you or them. In this while, the debt settlement company negotiates with your creditors to make them agree to lower the pay-off rate. The lower pay-off rate can go down to 40 to 50 percent of the original debt amount. After that is covered, the debt negotiation company will actually pay your creditors on your behalf.

April 28, 2013

A Few Words About the French “taxe D’habitation” and “taxe Fonciere”

Filed under: Tax — Tags: , , , , , — admin @ 12:47 pm

France is known for its complex tax and administration systems. But it is not as complicated as it seems. If you own a property in France or intend to buy one, don’t give up because of these administrative steps. All you need is some clues to help you understand how it works.

The first tax I will explain here is the “taxe d’habitation” (understand: French Residence Tax). It is imposed every year on the occupier of a property, in which he/she lived on the 1st January. This means that if you rent your French property out, you won’t pay for this tax but the tenant will have to. Or if you move in in June, for example, the former tenant has to pay for the tax (because he was in the house on the 1st January), unless a private agreement between you both has been made. However, you must keep in mind that provided the property is your second home, even though you don’t live in it on the 1st January, you will have to pay for the French Residence Tax. This is because the tax authority includes properties that are “capable of occupation” and not physically occupied. An interesting thing is that holiday lettings are exempt, but all permanent or semi-permanent stays are liable for the tax. The property being furnished or unfurnished makes no difference. The TV licence (“redevance audiovisuelle”, in French) comes along with the annual Taxe d’habitation. It amounts to €116 a year, for a household, no matter how many television sets you have.

The calculation of the tax is rather complex but in a word it is based on the notional rent a property might achieve (taken into account the condition, size and location of it), without any relation to the actual rent that is paid. The amount of the tax is higher in town than in the countryside. As the formula applied to this notional rent varies with the income the authorities need to raise, the amount of tax will therefore depend on the decisions of the different towns. If you want to check the notional rental value of your French property, you need to ask the local Centre des Impôts Fonciers (Service de Cadastre).

Your property may be exempt from the tax if it is a chambre d’hote or a classified gite. Visit the local mairie to know more about this. The other case of exemption is if you have tried without success to let your property. However, you will have to demonstrate evidence that you have been trying to let it. Lastly, people completely exempt of the tax are those over 60 years, widowed, disabled or infirm (incapable of gainful employment).

The second tax you may have to pay for in France is the “taxe fonciere”, or French Wealth Tax. It is also an annual tax, but imposed on the owner of a property (not on the occupier). Whether it is occupied or rented out makes no difference. In case you sell your French property during the year, you have to pay for the whole year, but don’t worry, you can agree with the new owner to share the costs. It is a common thing, provided you mention it in the sale and purchase agreement.

The basis on which it is determined is the same as that of the Taxe d’habitation. Another tax often comes with the Taxe fonciere: the rubbish collection tax (“taxe d’enlevement des ordures menageres”). Some local councils make a separate charge for it, while in some other towns it is funded from the general budget. Here again, the taxe fonciere is higher in towns than in the countryside. Usually you receive the tax demand (Avis d’imposition taxe foncière) during the third quarter of the year and a payment deadline is specified. All types of property are subject to this tax, that is to say residential, commercial, professional and industrial properties. Even land is subject to the tax, but are exempt: agricultural buildings, new woodland planting and properties built before 1989 where major energy conservation measures are undertaken. Two-year-full exemption to the Taxe fonciere is granted to new buildings, additions to existing buildings and rural conversions. There again, some people are exempt from paying for this tax. They are: people aged more than 75, disabled and those who receive the “minimum vieillesse” (which is a pension for elderly people with low income). Lastly, people aged between 60 and 75 benefit from a €100 (or more) reduction. Keep in mind that these exemptions are granted only if the property is your principal residence. Like for the Taxe d’habitation, you can be granted a relief from paying the tax if you are have been trying without success to sell your property.

Now that you know the most important things (and more!) about the French tax system for properties, you can stress less take the step to buying your dream French property!

Best Credit Card Debt Settlement Programs – Facing A Financial Shortage?

Filed under: Credit — Tags: , , , , , , , , , , — admin @ 12:47 am

Are you facing a financial shortage? Do you feel that your expenses and debts far exceed your income? If you are facing a money crunch you should not blame yourself.

Many people are these days because of the economic recession we’re in. This has forced corporations and small businesses to cut hours, cut wages, and even cut jobs. Many corporations that existed for decades have disappeared or been forced to reduce the number of stores, plants, or offices. Thus, it’s easy enough for anyone to have a financial shortage.

Aurora Lillo Editor of the “Get Rid Of Credit Card Debt” website — — pointed out;

“…The result of this shortage is that you may have started to rely on your credit card for small things, like groceries and gas. Over time, these small, apparently insignificant expenses begin to add up. Before you know it, you may have maxed out your credit card, found yourself unable to come up with the money to pay it off in full, and resigned yourself to watching the amount owed keep growing every month because of the high interest rates on it…”

If this is your situation, you may want to look into how you may benefit from a debt settlement program. It may well be worth your while to investigate to find the best credit card debt settlement programs. These programs have been designed to help almost anyone burdened by debt find relief by renegotiating their debt with the credit company.

Usually, a reliable credit card debt settlement program is offered by a company that has some strong indicators of performing well.

Here are some things you that you’ll be able to identify in a strong company:

It has a membership in TASC, The Association of Settlement Companies, the the Better Business Bureau, and the local Chamber of Commerce.

It is licensed for your state.

It is bonded for your state.

It hires professionals who are certified debt arbiters.

It has a good reputation based on past client reviews.

What can you expect from your settlement company?

“…You can expect your debt to be reduced to about 40 percent. The reason why the credit cards would be willing to accept this much smaller payment as payment in full is because they will be afraid that they will be left with nothing at all. Since the revolving credit loan is based on an unsecured loan, the charge company cannot collect from you should you choose to stop all payments. Thus, they would rather receive something than nothing at all…” added A. Lillo.

Further information about trusted and reputable companies for credit card debt settlement by visiting;

April 27, 2013

Student Loan Consolidation Comparison – What To Look For When Consolidating Student Loans

Filed under: Loan — Tags: , , , , , , , — admin @ 12:47 pm

The consolidation student loan advertisements everywhere point to the fact that federal interest rates are aiming to the floor and that means that this is the perfect time for student loan consolidation. Don’t lose any time because if you decide to consolidate now, you’ll be offered great rates and you can start saving money. Before signing anything, it will be best if you do some research in order to find the loan program that suits you best. Do a comparison and pay attention to the benefits and the problems for each program. The Interest Rates The federal student loans have either variable or fixed rates but consolidation will offer you lower and fixed rates that won’t be influenced by the federal rate. Many companies offer attractive consolidation rates and low monthly payments. The BenefitsWhen comparing the lender’s offers, you should pay attention to the benefits because they can ease your life considerably. For example, you can benefit from decreases on interest rates for consecutive payments, online application filling or automatic debit payments. It’s up to you to decide which of these benefits will help you with your financial problems. Fees for Consolidation Loans Student consolidation loans require no credit check and won’t charge you for applying. It’s free because the companies encourage early repayment. If you consolidate your loan, you can increase your monthly payments and eliminate the loan using less money. Credit for Student Loan Consolidation Your credit history is very important and a student consolidation loan will only add a few extra points to your reputation. If you have a big loan and you’re always late on payments, then you know that everything is registered on your credit record. With student loan consolidation, you will be able to pay the full amount using only a single monthly payment. You’ll improve your financial status, you’ll save some money and you’ll increase your credit score.

Student Debt Consolidation Loans: Paves Way to Debt Free Life

Filed under: Loan — Tags: , , , , , , , , — admin @ 12:47 am

There are many students who had availed loans to pursue higher education. This is because of the rising cost of education, be it any professional management course or any degree. Also going abroad to pursue further studies cost a lot. So when the time comes to repay these debts, it becomes some what tough for the students. To enable these debtors tackle debt related problems, now students can take the help of student debt consolidation loans.

Student debt consolidation loans are readily available in the financial market. Further they are categorized in to secured and unsecured form of debt consolidation loan. Secured form of this loan can be availed by those students who can pledge a property or asset against the loan amount. Here the borrower can access a number of benefits like bigger loan amount, easy repayment terms, comparatively low interest rates and so on. Whereas the unsecured option of this debt consolidation loan, are designed to lend a helping hand to those students who cannot offer any collateral. This loan is best suited for tenants and non homeowners and for those who are reluctant to offer asset as collateral.

This loan is indeed a better option to deal with debt related issues. The interest rates are kept marginal which help borrower to pay less on monthly installments. It provides a lot of mental relief to the borrower as he is not required to answer the multiple creditors. With a low interest rate, borrower gets to save a lot of interest money which can be maneuvered to fulfill other purposes.

To achieve better deals on Student debt consolidation loans, borrower can take the help of online application. But before availing this compare the various quotes of the lenders which enable you to understand the terms and conditions. The same applies to adverse credit borrowers. Insist on availing the loan from lenders who offer low interest rates, so that when its time to pay back the loan, borrower can easily do it.

Student debt consolidation loan helps to lessen a considerable amount of burden. Due to its friendly terms and conditions, it has gained immense popularity among student folks.

April 26, 2013

How To Make Bad Credit Home Loan Refinance Easier Like The Good Credit Refinance

Filed under: Loan — Tags: , , , , , , , — admin @ 12:46 pm

Today, when financial crisis are prevailing worldwide, the need for loans or refinances is expectable. For those who have good credit, it is not at all a problem for these options, but does that apply to people with bad credit? The answer is yes, it is possible!

If you think there is any error in this statement, then you are absolutely wrong. With the help of useful information and some crucial tips, bad credit home loan refinance can be easily obtained just like good credit home loan refinance.

To begin with, it is important to know what is considered as the most important factor while considering this loan option and the answer to this is credit ratings. A good credit score helps a lot in enabling a person with bad credit get home loan refinances.

In case the credit score is not good, the person must try to repair it. The advantage of repairing bad credit scores is that it not only helps a person getting refinances easily, but even helps in making the loans available at lower interest rates. Thus the benefits are double for the borrower.

Now if you are worried as to how to repair credit repairs, then too you need not to worry at all. It is so because by carefully analysing the credit reports, one can easily get an idea of the real status of his reports. He thereafter can look out for the errors or mistakes and can get them rectified. Thus by this way the scores can be made good to a good extent.

Additionally, there are various agencies available as well that can help a borrower improve his credit ratings. After improving the credit ratings, another important tip for a borrower is to find out the leading providers for home loan refinance with bad credit. Here, a rational approach is required to find out the right provider with better interest rates and other things.

So by following these tips, a person can get the bad credit home loan refinance easily without any problem.

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